2014 was the 18th year of operations for JAMK University of Applied Sciences. The Group’s turnover was MEUR 52.2, of which MEUR 46.3 was student income. In the joint application procedure, JAMK’s appeal increased and the JAMK Teacher Education College was the applicants’ favourite again.

The amended Polytechnics Act entered into force in early 2015, imposing changes in, for example, articles of association and company ordinance. The most significant change was the transition to the new funding model on 1 January 2014 in terms of basic funding from the Ministry of Education and Culture.

The number of personnel decreased slightly. In 2014, JAMK employed a teaching and support services staff of 686. In the autumn semester, the total number of students in degree-awarding education, specialisation studies and at the Teacher Education College was 7,971. For more information on the personnel, please read the personnel report.

Personnel 2014 (686)

Number of Students 2014 (7971)

Income statement: income 2014 (58,6 Me)

The Group’s turnover was EUR 52,236,059.73 (versus EUR 52,434,130.26 in 2013, excluding other profits). The student income included in the turnover amounted to EUR 46,275,020 (versus EUR 46,764,964 in 2013).

The reduction in study places implemented by the Ministry of Education and Culture in 2012 as well as the cuts in university of applied sciences funding began to have an effect on finances. The result continued to be positive in spite of reduced funding. The Group earnings deteriorated owing to the costs of the Turbiini property, because the property is for sale and was empty throughout the financial year. The property will either be sold in early 2015 or the Group will begin renovation work in order to take the property back into use in the beginning of 2016.

The Group has not needed external capital to fund its activities.

Income statement, expenses 2014 (58,3)

  CORPORATION  PARENT COMPANY  
  2014 2013 2012 2014 2013 2012

Turnover *)

 58 582 322 61 409 744 63 285 272 58 603 354 61 450 903  63 351 432
Operating profit 26 634 1 543 357 1 983 632 339 184 1 858 998 2 059 834
Operating profit, % of turnover 0,05 2,5 3,1 0,6 3,0 3,3
Salaries and remuneration 30 288 783 30 230 329 31 137 293 30 288 783 30 230 329 31 137 293
Salaries and remuneration, % of turnover 51,7 49,2 49,2 51,7 49,2 49,2

Number of employees **)

 639 649 686 639 649 686
Rents 8 032 136 8 025 705 7 552 615 8 038 698 8 056 757 8 025 388
Rents, % of turnover 13,7 13,1 11,9 13,7 13,1 12,7
Advance rents, long-term 12 353 812 13 092 851 13 831 890 12 353 812 13 092 851 13 831 890
Equity ratio (%) 84,85 85,30 84,30 77,11 77,30 73,70
 Return on equity (%)  0,14 5,20 7,30 1,37 7,70 9,40

*) turnover includes other operating income

            
             
Volume of R&D operations       6 146 245 7 650 097 7 173 473

**) average number of personnel calculated in person-years due to seasonal fluctuation in the number of part-time teachers

Appeal

In the young people’s joint application procedure in spring 2014, JAMK was the third most attractive university of applied sciences in Finland. Likewise, in the young people’s joint application procedure in spring 2014, JAMK was the primary preference of a record number of 4,706 applicants. The most attractive education areas were nursing, physiotherapy and social services, with 11 applicants per study place.

In a university of applied sciences image study conducted by Taloustutkimus in 2014, JAMK ranked second (average 7.91), after the Police University College (average 7.93), in a comparison. JAMK was ranked the best place to study and assessed to offer the best teaching quality as well as the most interesting fields of study.

In 2014, JAMK’s Teacher Education College was the applicants’ favourite again. The Study Counsellor Education intended for teachers was particularly popular.

Attraction per primary starting place

  2014 2013 2012
Joint application system for young people 5,70 5,62 4,87
Joint application system for foreign-language studies 8,30 8,98 7,42
Number of degrees 1 121 1 022 1 053

Forecast of future development

The cuts made by the Ministry of Education and Culture will have the most impact in 2015 and 2016. After that, we can expect to see positive developments in terms of teaching funding provided that JAMK maintains its relatively high status compared with other universities of applied sciences and the ministry does not further reduce the funding allocated to universities of applied sciences.

The RDI and services volume is expected to increase in the coming years.

Research and development activities

RDI activities slowed down at the beginning of the project period. Project activities received a total of EUR 6,146,245 in external funding (versus  EUR 7,650,097 in 2013) while the overall volume totalled approximately MEUR 9.1. Operations are expected to move into positive territory, but currently involve our most essential RDI risk, which is slow project programme launching in connection with the new EU programme period.

Funding programmes of the RDI projects 2014 (6,1 Me)

Environmental issues

Environmental legislation and its changes do not require any particular measures as regards the company’s business, but taking account of environmental issues may have significance for the company’s image. Moreover, JAMK University of Applied Sciences participates in the bioeconomy theme of the Innovative Cities Programme (INKA)of the Ministry of Employment and the Economy as well as in the Finnish Innovation Fund Sitra’s Resurssiviisas Jyväskylä (‘Resource effective Jyväskylä’) project.

Company shares

The parent company has 160 shares of the same type, with a nominal value of EUR 168.19 each.


Board of Directors’ proposal to the Annual General Meeting

The Board of Directors proposes to the Annual General Meeting that the financial statements be approved and that the parent company’s profit for the financial year, EUR 352,245.72, be left in the profit account without paying dividends.

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Annual report 2014

In 2014, JAMK University of Applied Sciences operations showed powerful growth in the bioeconomy sector and featured renovation and entrepreneurship growth. New openings were launched in cyber security: cyber security education was increased and diverse cooperation with different operators was deepened. In the joint application procedure, JAMK’s appeal increased and the Teacher Education College was, again, the most popular in Finland.

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